Q1 2024 EPS Estimates for Agnico Eagle Mines Limited (NYSE:AEM) Lifted by Cormark

Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) – Research analysts at Cormark raised their Q1 2024 earnings per share (EPS) estimates for shares of Agnico Eagle Mines in a note issued to investors on Monday, April 22nd. Cormark analyst R. Gray now expects that the mining company will earn $0.58 per share for the quarter, up from their previous forecast of $0.55. The consensus estimate for Agnico Eagle Mines’ current full-year earnings is $2.52 per share.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group upped their price objective on shares of Agnico Eagle Mines from $54.00 to $57.00 and gave the company a “hold” rating in a research report on Monday. TD Securities cut their price target on Agnico Eagle Mines from $64.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. CIBC decreased their price objective on Agnico Eagle Mines from $72.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. National Bank Financial restated an “outperform overweight” rating on shares of Agnico Eagle Mines in a research note on Monday, April 8th. Finally, Raymond James lifted their price target on shares of Agnico Eagle Mines from $66.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, January 12th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.14.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $63.70 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 0.74. The stock has a market cap of $31.76 billion, a P/E ratio of 15.50, a PEG ratio of 0.93 and a beta of 1.06. The company has a fifty day moving average price of $56.18 and a 200 day moving average price of $52.37. Agnico Eagle Mines has a one year low of $43.22 and a one year high of $64.19.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings results on Friday, February 16th. The mining company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.72 billion. Agnico Eagle Mines had a return on equity of 5.54% and a net margin of 29.29%. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.60 annualized dividend and a yield of 2.51%. Agnico Eagle Mines’s dividend payout ratio is currently 38.93%.

Institutional Investors Weigh In On Agnico Eagle Mines

A number of hedge funds and other institutional investors have recently bought and sold shares of AEM. Banque Cantonale Vaudoise grew its holdings in shares of Agnico Eagle Mines by 2.8% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,190 shares of the mining company’s stock valued at $369,000 after acquiring an additional 169 shares in the last quarter. Gulf International Bank UK Ltd increased its position in shares of Agnico Eagle Mines by 4.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 5,030 shares of the mining company’s stock worth $300,000 after purchasing an additional 226 shares during the last quarter. Natixis Advisors L.P. raised its stake in shares of Agnico Eagle Mines by 1.3% during the 3rd quarter. Natixis Advisors L.P. now owns 18,206 shares of the mining company’s stock worth $827,000 after purchasing an additional 242 shares in the last quarter. FirstPurpose Wealth LLC raised its stake in shares of Agnico Eagle Mines by 3.8% during the 3rd quarter. FirstPurpose Wealth LLC now owns 7,174 shares of the mining company’s stock worth $326,000 after purchasing an additional 260 shares in the last quarter. Finally, PFG Investments LLC boosted its holdings in shares of Agnico Eagle Mines by 3.5% in the 3rd quarter. PFG Investments LLC now owns 8,977 shares of the mining company’s stock valued at $408,000 after buying an additional 302 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.